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Business analytics master's program becomes a popular choice

Friday, February 26, 2016
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Business analytics master's program becomes a popular choice
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Our world is continuously going the way of technological innovation and data trends. As a result, so are businesses, creating a high demand for jobs in this sector.

While most students will learn about business analytics a little in their undergraduate business program, they probably learned a lot more about this field once they entered the real world. Because of this, there is a new set of skills employees need to have to grow and succeed in their companies, and that's where business analytics master's programs come in.

Many people are choosing to go back to school to get the skills they need to succeed in this burgeoning field and several schools are beginning to offer programs that teach students about this lucrative industry.

"The developers of the program believe that it will help students become leaders in a growing field."

Creating a skill set
For example, Syracuse University's Martin J. Whitman School of Management just developed and introduced a business analytics degree to its MBA program that is available both online and on campus. The business analytics program is offered as part of the school's relationship with 2U Inc., a Maryland based education-technology company. Many of the other university's master's business programs also are partnered with this company. The university is very excited about its newfound program, believing it will help people take the next step in their business career and move up in the company.

The program equips students with all they need to know about business analytics by focusing on courses in data analysis, financial analysis, marketing analysis, decision making and business analytics and principles of management science. The developers of the program believe that it will help students become leaders in this growing field.

"We have seen job opportunities for professionals in business analytics accelerate at high rates over the past three years, and we anticipate this demand to continue on its upward trajectory as data-driven roles within businesses continue to grow," the associate dean of graduate programs for Whitman, Donald Harter, stated in a press release. "{It} will enable students to develop a business skill set that is needed by businesses everywhere, without relocating to Syracuse."

Business analytics has become a common way to drive businesses forward. Business analytics has become a common way to drive businesses forward.

Joining the crowd
Syracuse isn't the only one who has jumped on this bandwagon. Other schools that offer similar programs include the University of Tennessee, New York University, and Arizona State University. The University of Tennessee was one of the first schools to launch a business analytics program, choosing to do so in 2010. Since then, others have joined the effort and now the field is more popular than ever. So why is there such a growing demand for this industry?

Many schools are essentially following industry trends. These days, several large companies, such as Google and Amazon, have based their entire company structure around analytics. Other companies have begun to use data as the sole way to determine their rank in the industry. However, people need to understand how to collect this data, how to understand it and how to turn it into a strategy that helps improve the company. While some people may have learned basic analysis skills in undergraduate schooling, these graduate programs help them become savvy analytics masters. Given this efficiency, companies want the talent and will continue to desire it.

According to the U.S. Bureau of Labor Statistics, the demand for these kinds of jobs will only continue to rise. The organization expects the field to grow by at least 27 percent by 2022, adding several new jobs to the industry. As people and programs become more innovative in this field, that surge will go up even more.

Clearly, any business-savvy person knows the time to get involved is now.

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